Fund under management rose 7% year-on-year to £18bn for Financial Planner and wealth manager Brooks Macdonald for its financial year ended 30 June

Wealth manager and Financial Planner Brooks Macdonald has appointed chief financial officer Andrea Montague as its new group chief executive to replace Andrew Shepherd, who will retire after 22 years with the group.

Wealth manager and Financial Planner Brooks Macdonald continued to see outflows for the quarter ended 31 March as investors pulled out money.

Underlying profit before tax rose 18% year-on-year to £17.1m (H1 FY23: £14.5m) for wealth manager and Financial Planner Brooks Macdonald for the six months ended 31 December.